Hotchkis & Wiley Large Cap Disciplined Value Fund’s Q2 2025 Investor Letter

Hotchkis & Wiley, an investment management company, released its “Hotchkis & Wiley Large Cap Disciplined Value Fund” second-quarter 2025 investor letter. The S&P 500 rose 10.9% in Q2 2025, despite recent volatility. After the “liberation day” tariff announcement on April 2, the index plunged over 12% in four days. The market rebounded from this low, nearly +25% over the next ~11 weeks, to finish the quarter at an all-time high. In this environment, the fund performed in line with the Russell 1000 Value Index and returned 3.37% vs. 3.79% for the index. Please review the fund’s top 5 holdings to gain insight into their key selections for 2025.

A copy of Hotchkis & Wiley Large Cap Disciplined Value Fund’s Q2 2025 investor letter can be downloaded here.